Georgia Commons

Title 7. BANKING AND FINANCE

Chapter 4. INTEREST AND USURY

23 sections · 7-4-1 to 7-4-30

Article 1. IN GENERAL

  1. 7-4-1Usury.
  2. 7-4-2Legal rate of interest; maximum rate of interest generally; certain items not considered interest.
  3. 7-4-3Finance charges on certain retail installment contracts; contract provisions related to manufactured homes; violations.
  4. 7-4-4Advertisement of rates of interest or finance charge.
  5. 7-4-5Failure to include required contract provisions for manufactured homes; violation of advertising restrictions.
  6. 7-4-6No limit on interest rate payable by profit corporations or persons on nonconsumer loans in excess of $3,000.00.Reserved
  7. 7-4-7No limit on interest rate on loans of $100,000.00 or more.Reserved
  8. 7-4-8Commission to third person does not make lawful interest usurious.
  9. 7-4-9Back interest may be stipulated in contract and recovered.
  10. 7-4-10Usury forfeits entire interest; right of setoff; how forfeiture discharged; when time bars action or defense.
  11. 7-4-11Usury is personal defense; no collection from insolvent to prejudice of others.
  12. 7-4-12Interest on judgments.
  13. 7-4-12.1Interest on child support and domestic relations orders; settlement of unreimbursed public assistance.
  14. 7-4-13Law of place of contract governs interest unless otherwise provided.
  15. 7-4-14Interest runs from default unless otherwise agreed; when demand necessary.
  16. 7-4-15When interest runs on liquidated demands; promissory notes payable on demand.
  17. 7-4-16When interest runs on commercial accounts; maximum interest rate on commercial accounts.
  18. 7-4-17Payment applied first to interest; no interest on unpaid interest; exceptions.
  19. 7-4-18Criminal penalty for excessive interest.
  20. 7-4-19Civil action to enforce chapter.
  21. 7-4-20Election to forgo application of federal usury laws.
  22. 7-4-21Class action barred on claims for violation of interest laws on loans secured by real estate.

Article 2. RESIDENTIAL SECOND MORTGAGES

  1. 7-4-30 to 7-4-36(no catchline printed)Reserved